Budget 2016 Overview

Thursday, November 17th 2016

The main story is that the John, Martin and the team have done a cracking job of cautiously managing the budget whilst the club have also been able to run a good list of events and functions across all disciplines. We did have a little unexpected bad news in that we needed to make an urgent payment for club equipment storage, which was not in forecast. On the upside though, membership was incredibly buoyant (we now have over 330 members).

Back in 2015 we introduced a scheme which we hoped would encourage volunteering by recompensing those who helped the club run some of the great things on offer (like HONC, Road Racing, TT, etc.) and we elevated the subs to cover the expected payments. However, volunteering levels remained pretty much the same (and we are increasingly reliant on a small number of individuals who are prepared to help us when needed) so the increase in subs effectively has just meant a little more money. Hence, we have reduced club subs across the board, scrapped the volunteer recompense scheme and are discussing some options on specifically recognising those who help us all to enjoy the events on offer.

The other key point is that we actually made money on something which might usually be seen as a cost, which was the cyclocross series. So, expenses were down given the injection of cash there. We will be looking to see how we can ensure the continued success in this growth area, possibly reinvesting some more of the money back into the events.

So, in summary (and rounded up):

Revenue was £10,250 (forecast was £9k)
Expenses were £7,000 (forecast was also £9k)